BlackLine Revenue Growth Tops 50%
Company surpasses 1,000-client mark as leading brands embrace BlackLine’s Modern Finance Platform in 2014: British Gas, Elsevier, Hubbell, JetBlue, Kmart Australia, Sky City and T-Mobile on Board
LOS ANGELES, LONDON and SYDNEY – Jan. 29, 2015 – Leading finance controls and automation software company BlackLine today announced 2014 year-over-year revenues were up more than 50 percent as global companies of all sizes accelerate adoption of the company’s ‘Modern Finance’ cloud platform for finance controls and automation.
BlackLine also recently announced it has surpassed the 1,000-client mark as a number of new mid-size and enterprise organizations embraced the BlackLine financial automation platform in 2014 including British Gas, Elsevier, Hubbell, JetBlue, Kmart Australia, Sky City Entertainment and T-Mobile. These new customers join an already impressive list of BlackLine client companies around the world that are using the leading cloud platform to transform their existing Finance and Accounting departments into leading-edge Modern Finance organizations.
BlackLine provides a host of tightly integrated applications and packaged solutions that automate and accelerate the financial close and other key accounting and finance processes – from within a single, unified cloud-based platform. Leading companies of all sizes are now integrating finance controls and automation solutions as part of their efforts to transform legacy, back-office operations into world-class, Modern Finance organizations with greater efficiencies and reduced compliance risk.
BlackLine was created to automate highly repetitive, manual accounting and finance tasks—tying up all the loose ends to liberate accountants to apply their talents to more strategic pursuits. The company’s introduction of its pioneering account reconciliation software in 2005 signified the development of an entirely new category of business technology, one erasing the drudgery, inefficiency and risk inherent in the previously manual, spreadsheet-based process, while offering unparalleled visibility into the underlying financial data.
Since then, BlackLine has added many new automated functions to its cloud-based technology platform, many created in tandem with the company’s enterprise-level and mid-market customers. Today, this robust platform comprises a variety of packaged solutions and key enabling technologies efficiently addressing multiple Finance and Accounting needs. The enormous amount of time accountants previously invested in manual exercises can now be reinvested in value-added activities, ensuring data transparency, enhanced controls and the integrity of data for reporting and compliance purposes.
BlackLine’s revenues have been up more than 50 percent annually on a consistent basis since the company’s inception. BlackLine has made the Software 500 list of the world’s “largest and best performing” software companies for the past four years, the Deloitte Technology Fast 500™ for the past five years and the prestigious Inc. 500/5000 for the past seven years in a row, joining the ranks of such companies as Jamba Juice, Microsoft and Patagonia.
In addition to strong revenue growth, BlackLine also quadrupled its headcount in the past few years, adding jobs in the United States, the United Kingdom and Australia and is on track to open additional European offices in 2015.